Following its departure from the European Union, the United Kingdom has tried to strengthen commercial ties on a global scale, and in June 2021 began negotiations to join the CPTPP, in an attempt to pivot towards geographically distant but fast-growing economies, especially in the Indo-Pacific.
Other members of the group are Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam.
The accession will complement the bilateral trade agreements that the United Kingdom maintains with several of the member countries, with the general objective of further cutting tariffs on goods and reducing barriers to services and digital trade.
“We are making good progress in the UK’s accession to the CPTPP, and our aim is to conclude the talks as soon as possible,” said a spokesman for the British Ministry of Trade and Enterprise.
“The Government is working to ensure the UK adheres on terms that work for UK businesses and are in line with national priorities,” he added.
